Enjin Coin to Make Snapshot on December 8th

Enjin Coin has announced that the final snapshot for all ERC-1155 tokens on Ethereum and JumpNet is scheduled for December 8th. This marks the beginning of the migration of NFTs to the Enjin Blockchain.

Refer to the official tweet by ENJ:

ENJ Info

Enjin is a comprehensive platform designed around the intersection of blockchain and gaming. Spearheaded by Enjin, this ecosystem offers a suite of interconnected gaming products with the Enjin Network at its core, where users engage in social gaming activities, including the creation of gaming websites, clans, chat forums, and virtual item storefronts.

Central to Enjin’s functionality is its ability to let developers tokenize in-game items on the Ethereum blockchain. Through this mechanism, real-world value is imparted to these digital assets, enabling their purchase, sale, and trade on integrated marketplaces. This digitization process does more than just virtualize items; it brings transparency, verifies authenticity, and guarantees the scarcity of the tokenized assets, enhancing their inherent value and utility across various applications.

Serving as the backbone of the Enjin ecosystem is the Enjin Coin (ENJ), an ERC-20 token. This digital store of value is integral to the creation and backing of blockchain assets, especially non-fungible tokens (NFTs). Every NFT produced within the Enjin platform has ENJ embedded within it, effectively locking this value and removing the corresponding ENJ from the general circulation. This system not only ensures that the assets possess inherent value but also provides liquidity and introduces an anti-inflationary model. Furthermore, Enjin’s distinctive “melting” feature grants users the option to dissolve their assets, subsequently reclaiming the intrinsic ENJ.